Lower Rates. Light EMIs.

Refinance Your Education Loan

Smarter loan solutions for a stress-free study abroad journey

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Get More Benefits With Refinancing

Switch to a different lender who provides you with better terms with lower interest rates.
More savings, more freedom, and more control over your loan.

Zero consultation charges

No origination fees, pre-payment, or late fees.

Free your Cosigners & Collateral

Release your loved ones from financial obligations and protect your assets.

Lower interest rates

Keep your loan affordable by paying less interest amount.

2 ways to Refinance,

One Goal: Bigger Savings

Choose the refinancing option that fits your financial needs and unlock
better loan terms.

Refinance With an International Lender

INR to USD

Suitable for Indian students working in the USA. This allows you to transfer your loan to a USA-based financial institution, and potentially benefit from better interest rates

Refinance With an Domestic Lender

INR to INR

Suitable for students working in India. This allows you to transfer your loan to another lender in India, potentially securing lower interest rates and lower EMIs

Benefits	INR to INR	INR to USD
Reduced interest rate, lower EMI	Refinancing in INR (e.g., SBI at 9%) on a ₹25L loan gives an EMI of ~₹31,150 (10‑year term). These floating rates can vary (e.g., 9→10%), and converting USD earnings at 1 USD = 85 INR yields $366/month, but if INR weakens to 90, that drops to $346—adding volatility to your USD budget.	A USD loan with a lower rate (e.g., 5–7% via SoFi or Earnest) can be advantageous. A $30,000 loan at 6% has a fixed EMI of $500—no forex risk if you earn in USD and a clear saving versus higher INR rates (9–11%).
Release cosigner	INR loans typically involve a parent as cosigner. Refinancing locally may convert them to a non‑financial co‑applicant (they remain linked but not financially liable), if you still manage INR payments from USD income—which can incur forex fees or delays.	Many U.S. education loans require a U.S. citizen cosigner, but after 1–2 years of on‑time repayments and U.S. employment, lenders like SoFi often allow release of the Indian cosigner—freeing them from liability.
Tax benefits	India’s Section 80E allows interest deduction on education loans, but since you earn and file taxes in the U.S., you generally cannot claim it. However, an Indian co‑applicant paying interest might still use Section 80E on their Indian tax return.	U.S. tax code allows up to $2,500/year deduction on student‑loan interest—but only for federal or qualifying private loans. When you refinance with a private lender, you may still claim this deduction if you meet IRS requirements.
Fixed interest rate	INR loans often have floating rates (e.g., start at 9%), so your EMI (e.g., ₹31,150) can change with rate moves. If INR weakens from 85 to 90 per USD, your INR EMI in USD terms drops from $366 to $346—potentially saving you USD but adding complexity to budgeting.	Refinancing to a fixed USD rate (e.g., 6%) locks in your EMI at $500—unaffected by INR/USD fluctuations, which simplifies budgeting in your earning currency.
Save on forex charges	You must convert USD earnings to INR each EMI. At 1–2% forex fees, a ₹31,150 EMI (≈$366 at 85 INR/USD) incurs $3.66–$7.32 in fees monthly, which compounds over the loan term.	Since both your income and loan are in USD, there are no conversion costs: a $500 EMI is paid directly, avoiding 1–2% forex fees per transaction.
Refinance without employment	Indian lenders may allow refinancing by adding a co‑applicant with stable income.	U.S. lenders generally require proof of income or strong credit history, so if you’re unemployed, securing a USD refinance is difficult.
Currency stability	An INR loan’s EMI (e.g., ₹31,150) stays floating during your tenure—but if INR depreciates (e.g., 85→89 per USD), your USD outlay falls from $366 to $350, which can either help or hurt depending on timing of your USD receipts.	A USD‑denominated loan aligns with your USD income: your $500 EMI remains constant regardless of INR/USD rate shifts, ensuring stable budgeting.
Extend tenure	Indian banks also often permit tenure extensions (subject to maximums and credit criteria), allowing you to reduce your EMI by lengthening repayment up to 15 years in some cases.	Many U.S. lenders allow longer tenures (up to 10), giving you flexibility to lower EMIs further if needed.

Enter your current loan details to see how much you can save.

Current
outstanding

₹

₹ 40 Lakh₹ 2 Cr

Loan tenure

months

60 months120 months

Rate of interest

14%18%

Compare your savings

Parameter	Current Loan	INR to USD	INR to INR

Total Interest	₹ 15.84 Lakh	₹ 10.98 Lakh	₹ 13.39 Lakh
Final Amount	₹ 55.84 Lakh	₹ 50.98 Lakh	₹ 53.39 Lakh
Forex Charges	₹ 1.30 Lakh	₹ 0	₹ 1.24 Lakh
Processing Fee	₹ 0	₹ 2 Lakh	₹ 80,000
Total Amount	₹ 57.14 Lakh	₹ 52.98 Lakh	₹ 55.43 Lakh
Total Savings	–	₹ 4.16 Lakh	₹ 1.71 Lakh

How Refinancing Student Loan
Works at Gradright

Step 1

Eligibility Check

Answer a few simple questions to see if you are eligible to refinance.

Step 2

Add Details

Fill in your academic, financial, and loan information.

Step 3

Get Loan Offers

Compare personalized offers from multiple lenders.

Step 4

Disburse New Loan

Choose your offer and let the lender pay off your old loan.

Step 1

Eligibility Check

Answer a few simple questions to see if you are eligible to refinance.

Step 2

Add Details

Fill in your academic, financial, and loan information.

Step 3

Get Loan Offers

Compare personalized offers from multiple lenders.

Step 4

Disburse New Loan

Choose your offer and let the lender pay off your old loan.

Hear from students and parents who refinanced their education loan

GradRight made my education loan refinance process smooth and stress-free. Their platform helped me secure a 3% lower interest rate by connecting me with the right lender and guiding me through every step. The team was efficient, supportive, and made the transition seamless. I highly recommend their service to anyone looking to reduce their loan burden.

I had a great experience with GradRight while handling my loan balance transfer. Their response was very prompt and professional. They took care of everything—from collecting details from all relevant banks to finding the best option that suited my case perfectly. A special thanks to Priyanka, who was extremely helpful and coordinated with the banks on my behalf. She kept me updated throughout the process and made sure everything went smoothly. I truly appreciate the support and highly recommend GradRight to anyone looking for similar services.

Mr. Chakravarthy

Parent

INR to INR

Refer & Win Unlimited.

Take the first step toward lower payments and more savings.

Your Better Financial Future Starts Now

Take the first step toward lower payments and more savings.

Need help? Let’s talk!

Have questions about refinancing? Our experts are here to guide you.

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Frequently Asked Questions

Refinancing means replacing your current loan with a new one from a different lender, potentially at a lower interest rate and better terms, saving you money and simplifying your payments.

Yes! Refinancing allows you to switch your loan to a US-based lender and take advantage of better terms and rates.

Refinancing may temporarily affect your credit score due to a hard credit inquiry, but regular, on-time payments on the new loan can improve your score over time.

Savings depend on your current interest rate, loan balance, and the new terms you qualify for. Many borrowers save thousands over the life of the loan.

International students who have graduated from a US institution, have a stable income, and meet credit score requirements are generally eligible. Some lenders may also require a cosigner.

Most US lenders offer refinancing with no origination or application fees. Always check the terms and conditions of your specific lender.

Yes, you can refinance multiple times if you find better rates or terms, but consider the impact on your financial goals and overall savings.

The process typically takes 2-4 weeks, depending on the lender and how quickly you provide the required documentation.

Common requirements include proof of income, a government-issued ID, your current loan details, and possibly proof of graduation.

Refinancing is ideal if you have a stable income, good credit, and are looking to save on interest or reduce your monthly payments. It's a personalized decision based on your financial situation.

Locations

Hyderabad, Gurgaon, Bangalore, Kolkata

London

Washington, DC

Reach out to us

Contact grad@gradright.com

Phone +91 92402 09000